The market for precious metals is becoming competitive as they’re highly sought-after investment assets. Many want a piece of this profitable pie, so new dealers appear almost daily. Of course, not everyone is to be trusted. So you have to choose a precious metal dealer with utmost attention to avoid fraud and data abuse. There are trusted dealer who help help in this.
Considering these things happen quite often lately, you have all the right to wonder if a certain company is legit or a scam. Lately, this dilemma has been around Money Metals Exchange, an online dealership where you can buy or sell gold, silver, etc. They’re among the top dealers in the USA, but are they the real deal?
Is Money Metals Exchange A Scam?
You can breathe a sigh of relief because this company isn’t a scam. Many would think so, considering it’s a dealership that operates exclusively online. However, its legitimacy is supported by the fact that BBB accredited its business about three years ago. The company has a fairly good rating, although you can run into a few complaints, which experts from this company probably solved quickly.
That Money Metals Exchange isn’t a fraud is clearly shown by the use of the SSL protocol, which aims to protect client data through encryption. It means sensitive information can’t be hacked easily, especially since the company doesn’t share its database with others.
How Money Metals Exchange Works
This company first presented itself as a precious metal dealer. The original services were trading gold, silver, etc., that is, selling, buying, or holding your assets. In the meantime, the offer was extended to the services of keeping these assets in secured storage facilities, as well as loans, that is, borrowing money against the precious assets you own.
This online dealer has a large offer of gold, silver, platinum, palladium, and rhodium products. Considering the buyback policy that Money Metals exchange maintains, whatever you buy from them, you can sell them again at the market price. So you won’t be at a loss, and you have a guaranteed buy no matter what.
What We Like About Money Metals Exchange
This company allows you to start slowly (as low as $100 per purchase). Here are a few tips on how to start. Then, as you progress as an investor, you can upgrade your monthly contribution plan towards buying precious metals. Then, there’s a quite interesting referral program that rewards both the person being referred and the referrer.
As for shipping, you get your order for free if it exceeds $500. Of course, all shipments are insured during transport and arrive at your place quite quickly after placing an order and payment processing. Even if you have to return a product (which is absolutely possible), the whole process is completed very quickly.
What also sets Money Metals Exchange apart from others is their fairly low prices. These are competitive and market-based. When you sell, you can get more money; when you buy precious metals, you will most likely pay less than your competitors.
What Can Be Better
What can be criticized about this company are sometimes high transaction fees and a long time to process payments through certain methods such as a paycheck or ACH transfer. Also, some payment methods have a cap set too high or too low.
Another minus we mention in this review of Money Metals Exchange is their customer support. Considering that it is a question of working with valuable investment assets in which clients often invest a lot of money, the company would have to make an effort to be at their service all the time, even when customer service isn’t available.
Hours of operation are Monday through Friday (7:00 AM to 5:30 PM MT), and Saturdays from 7:00 AM to 3:30 PM. Professional agents are there to answer most questions and doubts, but availability is what can be criticized, considering that they take several days to answer emails.
Vast product offer, lower price than competitors, and exclusively online business give you a legit right to wonder whether Money Metals Exchange is a scam. Luckily, it’s not, so you can have peace of mind if you opt to buy or sell your precious assets with them.
